The new company will merge Axus's 120,000-vehicle fleet in 15 countries with Hertz Lease's 15,000-vehicle fleet in 23 countries. Under the terms of the deal, Hertz will license its name to Axus in a five-year contract. Axus International's management structure will remain unchanged, but will now report through the Hertz Corporation rather than Ford Motor Credit.
The rebranding across all of Axus's offices became effective on February 1 and impacts on operations in Belgium, Luxembourg, Netherlands, France, Spain, Germany, UK, Italy, Sweden, Finland, New Zealand and Australia. Hertz Lease's European head office is at new premises in Northampton, previously Axus UK's headquarters.
Stephen Barrett, European general manager of Hertz Lease raised the possibility of reduced rental and leasing rates as a result of the change, saying: 'We are more interested in the advantages of service provision. But without doubt the enlarged business will provide economies of scale that we would look to pass on to customers.' Barrett has formally taken over the role of chairman of Axus International, a post of which he was 'custodian' following the departure of Jan Astrand last July.